L'Oreal CEO bullish on US as China sales stay weak
PARIS (Reuters) -Cosmetics giant L'Oreal is upbeat on the United States for the year ahead, it said on Friday, even as its shares were dragged down by its slowest quarterly sales since the height of the pandemic, following weak Chinese demand. L'Oreal has been popular for years among investors for outperforming peers, but persistently weak demand for consumer goods in China, where it has a significant market share, has affected its business. The Paris-listed shares were down by over 4% around 0912 GMT, as investors were concerned that sales also stayed below expectations in North America, as well as in the firm's luxury segment.